A digital wallet startup has filed a lawsuit against Mastercard, alleging restricted access to payment technology.

A technology startup called OV Loop Inc has filed a lawsuit against Mastercard Inc in a Boston federal court, alleging that the payments giant is hindering its efforts to create a universal digital wallet for consumers that can function across various mobile platforms. The lawsuit, seeking over $75 million in damages under U.S. antitrust law, accuses Mastercard of unfairly denying access to essential digital payments technology, particularly tokens necessary for competing in the digital wallet space. OV Loop's founder and chairman, Will Graylin, stated that Mastercard's selective granting of access to these tokens undermines fair competition, emphasizing the lack of business justification for such unequal treatment.